JAPAN MAY APPROVE THE CRYPTOCURRENCY ETFs

JAPAN MAY APPROVE THE CRYPTOCURRENCY ETFs

Japan’s Financial Services Agency (FSA) is considering to approve exchange traded investment funds (ETFs) that track digital assets. According to the recent reports, the financial regulator is currently studying the sector’s interest in cryptocurrency ETFs.

It is worth noting that less than a month ago, the FSA postponed plans to approve cryptocurrency futures. Consequently, the Agency has stopped efforts to revise the securities law, which could lead to the listing of cryptocurrency options and futures on major financial exchanges.

As the FSA explains, this decision was based on the fact that the introduction of such products would only provoke speculation. Assuming the futures of cryptocurrency, Japan could join the countries that have already approved the futures on bitcoin.

In mid-December, the regulator of Japan introduced new rules for regulating cryptocurrencies.

The country’s interest in the approval of new financial instruments is quite clear – the hype around cryptocurrencies is not fading, but only gaining momentum. At the end of December, the financial regulator of Japan reported that 190 companies intend to enter the country’s cryptocurrency market in the coming months.